PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by AMI Asset Management Corp

AMI Asset Management Corp lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 302,481 shares of the company’s stock after acquiring an additional 7,118 shares during the quarter. PepsiCo accounts for 2.7% of AMI Asset Management Corp’s investment portfolio, making the stock its 15th largest position. AMI Asset Management Corp’s holdings in PepsiCo were worth $52,937,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the business. Tempus Wealth Planning LLC lifted its holdings in PepsiCo by 3.8% during the 1st quarter. Tempus Wealth Planning LLC now owns 7,387 shares of the company’s stock worth $1,293,000 after buying an additional 269 shares in the last quarter. Core Wealth Partners LLC increased its position in shares of PepsiCo by 2.4% in the 1st quarter. Core Wealth Partners LLC now owns 6,935 shares of the company’s stock valued at $1,213,000 after purchasing an additional 165 shares during the last quarter. RBA Wealth Management LLC increased its position in shares of PepsiCo by 1.2% in the 1st quarter. RBA Wealth Management LLC now owns 27,763 shares of the company’s stock valued at $4,859,000 after purchasing an additional 327 shares during the last quarter. Accel Wealth Management increased its position in shares of PepsiCo by 17.6% in the 1st quarter. Accel Wealth Management now owns 13,500 shares of the company’s stock valued at $2,363,000 after purchasing an additional 2,019 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC increased its position in shares of PepsiCo by 1.6% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 4,088 shares of the company’s stock valued at $715,000 after purchasing an additional 65 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ:PEP traded down $0.98 during trading hours on Thursday, reaching $162.60. 2,879,575 shares of the company’s stock were exchanged, compared to its average volume of 5,397,682. The firm has a market capitalization of $223.54 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 2.69 and a beta of 0.52. The company has a 50-day moving average of $172.65 and a 200 day moving average of $170.19. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $192.38.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter last year, the business earned $1.50 EPS. The business’s revenue was up 2.3% on a year-over-year basis. Research analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is 81.50%.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the sale, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PEP. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. BNP Paribas began coverage on shares of PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Monday, March 18th. TD Cowen dropped their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research report on Wednesday, June 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Moderate Buy” and an average price target of $186.64.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.